Support for Businesses during the Coronavirus Crisis

100 million for the Main Street Business Revitalization Program for small businesses that experienced loss relating to the closure of all non-life-sustaining businesses and have or will incur costs to adapt to new business operations re COVID-19.

$100 million for the Historically Disadvantaged Business Revitalization Program for small businesses that experienced loss as a result of the business closure order, have or will incur costs to adapt to new business operations related to COVID-19, and in which socially and economically disadvantaged individuals own at least a 51% interest and control management and daily business operations.

$25 million for the Loan Payment Deferment and Loss Reserve Program, which will allow the CDFIs the opportunity to offer forbearance and payment relief for existing portfolio businesses that are struggling due to the impact of COVID, as well as shore up the financial position of the CDFIs that are experiencing significant increased defaults in their existing loan portfolios. 

Eligible businesses with 25 or fewer employees may receive a maximum grant of $50,000 to cover COVID-19 related costs.  The final round of funding starts August 10th and ends August 28th.

Round # 2 of Delco Strong Grants are now available to assist local businesses and non-profits.

Businesses are eligible for up to $20,000. Non-profits are eligible for up to $50,000.  The online application window opens on July 7th.

Recognizing the need to provide support to Delaware County’s local business community, Delaware County has launched Delco Strong Small Business Support. The program will provide $1.75 million in grants for small businesses affected by COVID-19.

Administered in partnership with the Delaware County Economic Development Oversight Board, the Delaware County Planning Commission and the Redevelopment Authority of the County of Delaware. Grant proceeds may be used for rent, mortgage, utilities and inventory.

The COVID-19 Cultural and Museum Preservation Grant Program provides grants to cultural organizations and museums that experienced a loss of revenue from the closure by the proclamation of disaster emergency by the Governor and any renewal of the state of disaster emergency.

Eligible cultural organizations or museums must be one of the following categories to be eligible:

Children’s Museum

General Museum with at least two equally significant disciplines

History Museum or Historical Site

Military or Maritime Museum

Natural History Museum

Accredited Zoo

Planetarium

Science and Technology Center

Orchestra

Art Museum

Performing Arts Organization

The maximum grant is $500,000 per eligible cultural organization or museum. The minimum grant is $25,000 per eligible cultural organization or museum..

 These grants provide an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within three days of applying for an SBA Economic Injury Disaster Loan (EIDL). To access the advance, you first apply for an EIDL and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, meet increased production costs due to supply chain disruptions, or pay business obligations, including debts, rent and mortgage payments.  

This program will provide cash-flow assistance through 100 percent federally guaranteed

loans to employers who maintain their payroll during this emergency. If employers maintain

their payroll, the loans would be forgiven, which would help workers remain employed, as well

as help affected small businesses and our economy snap-back quicker after the crisis. PPP has a

host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee

retention and salary levels, no SBA fees, and at least six months of deferral with maximum

deferrals of up to a year. 

  The SBA Debt Relief program will provide a reprieve to small businesses as they overcome the challenges created by this health crisis.

The SBA will pay the principal and interest of current 7(a) loans for a period of six months.

The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.

More details in the coming days.

NOTE:  As of 4/1, applications have been paused because requests have surpassed the $61 million available.  Stay tuned for additional funding announcements

$61 million allocated to the Small Business First Fund to provide loans of $100,000 or less to for-profit businesses with 100 or fewer full-time employees.   The money is to help cover rent, utilities and other unavoidable bills but can't be used for personnel costs.

 If any of the following have happened to you at work because of the coronavirus pandemic or its impact:

Your hours have been reduced 

You have been temporarily laid off or your workplace closed

You were you sent home from work due to minor symptoms related to coronavirus

Your work was interrupted to care for a family member

You were fired when you refused to work in unsafe conditions

You quit to avoid unsafe conditions

Apply for Unemployment Compensation!

A Shared-Work plan allows an employer to temporarily reduce the work hours of a group of employees and divide the available hours equally rather than laying off any employees. Employees covered by a Shared-Work plan receive a percentage of their Unemployment Compensation (UC) Weekly Benefit Amount (WBA), while they work the reduced schedule, if they are otherwise eligible for UC. Rapid Response Line: 717-503-7901  

Temple Small Business Development Center